Good deal? (20’GT2 AWD)

[GuestMTP]

Hey everyone, just found out about this whole lease/buyout trick and am fishing an offer to my local dealer. Here’s what they replied back with, let me know if you think its a good deal or not:

The car in questions is a 2020 GT2 AWD in ceramic gray with the typical carpet floor mat and remote start.

MSRP: $54635, talked them down to $51500)
Rebates: $8900.
Fees: Gov’t Fee $485
Proc/Doc Fee $180
Capitalized Taxes$ 1231.71

Final Adj Cap cost is $45865.22

Is the Gov Fee and Cap Tax fee legit? Or is this just “fluff“ built into the deal for immediate profit? I’m located in IA if it makes a difference. I understand that there are better lease cash deals out there for 24 mo. but my credit didn’t rate for a 24 mo. lease. Just wondering if this is legit or not.

 

[mvcost]

I just leased a '20 GT2 AWD, $1,500 to close, 36 mos., $10K miles/year for $589/mo. including CA sales tax. CA dealers couldn't even get close so I picked up the car out of state.

 

[2Slo4u]

The deal is ok. If you can, you might wait a few months. I bought my 2019 GT2 for $38k doing the lease buyout. Kia started offering 10-12K in lease cash later in the year. Will they do it again, no idea

 

[ht_addict]

Really benefits to live in Canada. I just purchased my 2020 GT Limited for $43k CDN($32.6k US) before taxes.

 

[ezreazy]

Really benefits to live in Canada. I just purchased my 2020 GT Limited for $43k CDN($32.6k US) before taxes.

Wow that’s a really really good price, can I ask which province you’re from? I had the kia dealerships in my city pretty much do a bidding war and the price didn’t come close to that, that’s really impressive.

 

[GuestMTP]

That’s not entirely out of the question right now either. May just wait a while and see what other lease cash comes once the 21’ models drop. They build date on this car is from Aug of last year and I’m guessing it’s been on the lot for over 6 months. Tried pressing that angle to drop a couple grand more but no luck. I’m not against waiting by any means.

The deal is ok. If you can, you might wait a few months. I bought my 2019 GT2 for $38k doing the lease buyout. Kia started offering 10-12K in lease cash later in the year. Will they do it again, no idea

 

[ht_addict]

Ontario

 

[ezreazy]

Ontario

Maybe I should’ve considered buying out of the province if covid wasn’t occurring right now. That’s a much better price than what I can get in manitoba it seems.

 

[ht_addict]

There is a Demo 2019 for $38k. Says 194kms. Probably get some more off.

https://www.winnipegkia.com/inventory/new/2019-kia-stinger-winnipeg-manitoba/16022568

 

[ezreazy]

There is a Demo 2019 for $38k. Says 194kms. Probably get some more off.

https://www.winnipegkia.com/inventory/new/2019-kia-stinger-winnipeg-manitoba/16022568

That’s a GT-Line, I could’ve gotten a demo GT for 40k but I really wanted the 2020 limited, actually got my stinger from that dealership!

 

[Lonz]

Hey everyone, just found out about this whole lease/buyout trick and am fishing an offer to my local dealer. Here’s what they replied back with, let me know if you think its a good deal or not:

The car in questions is a 2020 GT2 AWD in ceramic gray with the typical carpet floor mat and remote start.

MSRP: $54635, talked them down to $51500)
Rebates: $8900.
Fees: Gov’t Fee $485
Proc/Doc Fee $180
Capitalized Taxes$ 1231.71

Final Adj Cap cost is $45865.22

The deal should look like this:

MSRP: $54,635

Dealer Price: $49,172 (which is 10% off of MSRP before rebates and fees)

Add Lease Acquisition Fee of $650 (I didn't see this fee on the PDF, wonder where it is?)

You're now at $49,822.

Now add doc fee of $180.

You're now at $50,002.

Less Rebate of $8900.

You're now at $41,102.

Add Government Fee of $485. I'd like to know what exactly this fee is. We don't have this in Missouri. Is this for DMV registration, license plates, title fee, etc?

You're now at $41,587.

Now add Capitalized Taxes of $1231.

You're now at $42,818. This is what you want your Adjusted Captial Cost to be.

So, bottom line, you're paying nearly $3k more than what I would consider being the best deal possible.

I would not move forward with this deal.

Hope this helps!

 

[heyheyal]

Agreed.

To make it simple here is what my target out the door prices where when I was shopping. NJ tax of 6.625% and luxury tax of .4% vehicles listed over $45,000.

GT2 42
GT1 39.5
GT Indigo 39

these were my purchase price targets not lease/bo

 

[GuestMTP]

Agreed.

To make it simple here is what my target out the door prices where when I was shopping. NJ tax of 6.625% and luxury tax of .4% vehicles listed over $45,000.

GT2 42
GT1 39.5
GT Indigo 39

these were my purchase price targets not lease/bo

I hear ya. I offered to buy outright at 42k but the dealer says they can’t go that low. Currently looking elsewhere for new or a good deal on a used one on Carvana at the moment.

 

[heyheyal]

I hear ya. I offered to buy outright at 42k but the dealer says they can’t go that low. Currently looking elsewhere for new or a good deal on a used one on Carvana at the moment.

Have to be willing to look way beyond your local. I drove 2.5 hrs to get my deal and there was also a new member from Phily who bought in NH. Just take your time and be patient. It’s hard I know but you will get there. I had dozens of dealers laugh in my face at my numbers and that’s their right if they can sell at their crazy numbers but I wasn’t going to be one of those victims. I was at the point I may have to consider other vehicles until a deal fell into my lap. But it took work and a spreadsheet of 52 dealers. If you are interested check out the G70 in red. There are deals to be had. Paint issues that got sent back to Hyundai for respray and are selling as used with almost no miles.

 

[MerlintheMad]

You get what you pay for. That means service too. Some people (me, for instance) go in expecting the dealer to bend over backwards to make a sale. If you don't argue them down but just accept their discount and the normal process of selling a new car, and you make demands on the trim and color, etc., likely, the dealer will start calling around like mad to find what you're looking for, rather than lose you. That was my experience.

 

[fc528e]

I had to contact 20 - 30 dealers before I had 3 willing to hit the magic numbers with lease incentive (just completed my buyout!), which was $39,500 for a GT2, and trade minimum. Finally ended up with a dealer about an hour from me which was more than reasonable.

Keep trying; I'm hopeful you'll find a dealer willing to meet your wants.